MCA-Honduras will support competitiveness of local micro, small and medium enterprises

Tegucigalpa.- MCA-Honduras recently hired the National Law Center for Inter-American Free Trade (NLCIFT) -an educational entity associated to the James E. Rogers School of Law of Tucson University- as the institution that will be providing assistance to local micro, small and medium enterprises in order to obtain credit at competitive rates, and in similar conditions to those currently being offered in more developed countries. The assistance will also be aimed at implementing an efficient and organized secured transactions system nationwide.

The NLCIFT is an organization dedicated to build up the legal infrastructure needed to promote commercial capacity and economic development in the Americas.

Dr. Boris Kozolchyk gave a conference in Honduras on the importance of a Secured Transactions Legislation for the national economy.

The contract signed with MCA-Honduras will be effective for 32 months -ending in July 2010-, and comprises technical assistance to develop a Secured Transactions Law and its Registry system, as well as preparation of different technical and operational regulations to derive from the new legislation. The corresponding draft for the new law has already been submitted to National Congress.

Through the NLCIFT, MCA-Honduras will create the legal instruments required to facilitate implementation of the Secured Transactions Law, will design the administrative, operative and procedural tools of the registry system, will define the economic feasibility and the financial sustainability of the registry. The contract also includes the creation of technological tools for the registry, as well as the development and implementation of the training plan for the different stakeholders involved in the implementation of the secured transactions registry.

In a joint effort to support the country´s sustainable development, the process of preparing, promoting and implementing the Secured Transactions Law has been endorsed by organizations representing the Honduran civil society, the Centro Government and the private sector,

The contract was signed on October 9th, by Mr. Martin Ochoa, MCA-Honduras General Director, and by Dr. Boris Kozolchyck, NLCIFT´s director.

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